Can BitTorrent (BTT) Price Take Action With This New News?
BitTorrent (BTT), the 28th largest cryptocurrency by total market cap , continues to decline after the record. The BTT price, which went up to $ 0.013 on April 5 and broke the all-time record, fell 39% since then and continues to decline.
This Could Be The New Rise For BitTorrent
It is seen that the price of BTT increased more than 30 times in 1 year and such a decrease is actually a highly expected development. However, looking at the updates published by the BitTorrent team, it seems that it is possible for the price to move again.
BitTorrent File System (BTFS), the underlying data structure behind the BitTorrent network protocol, will undergo a major change in the near future. In the statement published by Coldstack, the update to be carried out within the BitTorrent File System was announced. It is stated that the developers will be able to use different tools on the BTFS system and make improvements much more easily after this update.
Why Coldstack Matters
Coldstack actually provides a similar service to Uber when it comes to decentralized data storage. The fact that Coldstack will now support BitTorrent and the addition of the BTFS protocol among Gateway Storage SDKs can significantly increase the growth of the network. Coldstack’s software development kit, Gateway Storage SDK, can be used directly by blockchain engineers.
The Gateway Storage SDK infrastructure supports not only BTFS, but also other file storage applications in the blockchain industry such as Storj, Filecoin, Lambda and SIA. This shows that BitTorrent is now joining the other giants.
BTT Price Still Red!
So what exactly does this update offer? Technically speaking, blockchain-focused developers can now be content with a single platform to access or use BTFS data. Thanks to the cooperation, development of both Tron and BitTorrent will be achieved much faster thanks to Coldstack systems. The BitTorrent Token price recently broke a record, actually reacting to the release of the BitTorrent File System.
The BTT price is trading at $ 0.008 as of the time of this writing, and $ 0.006 is a significant support. If the price breaks below this support, $ 0.004 will be the next support. BTT’s recovery seems to be due to an increase above $ 0.010.